Aminex Places Shares To Raise GBP1.2M For Exploration Costs

9th Jun 2010 07:15

LONDON (Dow Jones)--Aminex PLC (AEX.LN), an oil and gas explorer, said Wednesday it has been offered participation in an exploration project by a major regional operator in Louisiana, and will place 17.2 million, new ordinary shares at 7 pence per share to raise GBP1.2 million to be able to take advantage of this offer. MAIN FACTS: -This placing will raise GBP1.2 million ($1.7 million) net of expenses, which, subject to final negotiation, should enable Aminex to acquire a minority but meaningful share of the new exploration project without the need to reallocate budgeted funds within the Aminex group. -The issue of these new ordinary shares, representing in aggregate 4.2% of the existing issued share capital of the Company, is within existing allotment authorities granted by shareholders. -Further announcements in relation to Aminex's planned investment in this exploration project will be made in due course following finalization of all negotiations. -Shares closed at 7.5 pence Tuesday. -By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; [email protected] (END) Dow Jones Newswires June 09, 2010 02:15 ET (06:15 GMT)